Legal Question in Real Estate Law in Georgia

Foreclosure

I want to buy foreclosures at auction on the court house steps. I need to make sure if I make a purchase I don't get any surprises. 2nd liens, IRS, etc. Can you tell me the procedure to verify that when I make the purchase, I am only getting what I am paying for.


Asked on 1/20/02, 4:56 pm

1 Answer from Attorneys
Hugh Wood Wood & Meredith

Re: Foreclosure

Good Luck. Buying Foreclosures is a contact sport. If you don't want to play the game, don't get in the arena. Lots of surprises crop up at every sale. Even when I spent bunches of my own money doing titles on the properties I wanted to bid on there were still surprises. The worst part about buying on the courthouse steps, is that you never know what will actually go to sale. Sometimes I would work up 15 properties for bids and 1 or zero would actually be autioned. Thus, all of the title work on the other 14 was for naught. I work with a firm that sells about 500 foreclosures a month. Go see. www.swertfeger.net Hugh Wood

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Answered on 1/20/02, 11:07 pm


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